v3.25.1
Consolidated Statements of Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Revenues:    
Rental revenues $ 26,655 $ 29,549
Financing revenues 338 535
Total revenues 214,780 206,235
Cost of revenues:    
Franchise expenses 81,193 86,473
Bad debt expense 1,660 183
Company restaurant expenses 22,006 299
Interest expense from finance leases 689 740
Other rental expenses 20,521 21,215
Total rental expenses 21,210 21,955
Financing expenses 61 84
Total cost of revenues 124,470 108,811
Gross profit 90,310 97,424
General and administrative expenses 51,337 52,187
Interest expense, net 17,727 18,072
Closure and impairment charges 5,846 634
Amortization of intangible assets 2,716 2,722
Gain on disposition of assets (111) (237)
Income before income taxes 12,795 24,046
Income tax provision (4,598) (6,573)
Net income 8,197 17,473
Other comprehensive income (loss) net of tax:    
Foreign currency translation adjustment 1 (2)
Total comprehensive income 8,198 17,471
Net income available to common stockholders:    
Net income 8,197 17,473
Less: Net income allocated to unvested participating restricted stock (353) (512)
Net income available to common stockholders - basic $ 7,844 $ 16,961
Net income available to common stockholders per share:    
Basic (in dollars per share) $ 0.53 $ 1.13
Diluted (in dollars per share) $ 0.53 $ 1.13
Weighted average shares outstanding:    
Basic (in shares) 14,907 14,980
Diluted (in shares) 14,907 14,980
Franchise Revenues:    
Revenues:    
Revenue from contract with customer $ 166,214 $ 175,877
Royalties, franchise fees and other    
Revenues:    
Revenue from contract with customer 95,724 100,616
Advertising revenues    
Revenues:    
Revenue from contract with customer 70,490 75,261
Company restaurant sales    
Revenues:    
Revenue from contract with customer 21,573 274
Advertising revenues    
Revenues:    
Revenue from contract with customer 70,500 75,300
Cost of revenues:    
Franchise expenses 70,490 75,261
Other franchise expenses    
Cost of revenues:    
Franchise expenses $ 9,043 $ 11,029